SBA Loan Designed to Stomp Out Y2K Bug

Y2K procrastinators take heart. The SBA has just rolled out a new loan program to help small-business owners inoculate themselves against the Y2K bug.

Dubbed Y2KAction Loans, the funds are available to qualified companies that need to buy new computers, rejigger software, hire outside consultants or take other steps to prevent their systems from seizing up when Jan. 1, 2000, rolls around.

Congress authorized the spending as part of the recent Small Business Year 2000 Readiness Act. But remember, it’s a loan, not a handout.

If you have no idea what you need to do to fix your system, the SBA can help with that too. The Los Angeles district office has chosen the week of June 21 for its Y2K Matchmaker Fair. The idea is to introduce small-business owners to Y2K experts who can help them.

For more information on the Y2KAction Loans, call (818) 552-3229 or (818) 552-3230. The SBA is still working out details for its Y2K Matchmaker Fair; call John Tumpak at (818) 552-3203 for updates.